As China seeks new economic growth, is it time to unleash the power of the ‘she-conomy’?

A growing ‘she-conomy’ in China is leading to the working-age female population playing a leading role in personal spending and family purchases

China is seeking to switch to an economic growth model that relies more on consumption, which contributed 82.5 per cent of growth last year

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Chinese women are also showing growing interest in new areas that were traditionally male-dominated, including cars and games. Photo: AP

Mandy Zuoin ShanghaiandHe Huifengin Guangdong

Published: 11:00am, 2 May 2024Updated: 5:05pm, 2 May 2024

For several years, Guangzhou resident Lucy Nan spent a major portion of her income on her biggest hobby – collecting crafts ranging from family antiques to paintings.

The unmarried 49-year-old even rented a small villa costing about 10,000 yuan (US$1,379) a month just to house her collection, which ranges from European ceramics to Japanese lacquerware.

“I should say I’m quite self-centred in daily life and spending … I’m willing to pay 2,000 yuan to try a nice restaurant,” said Nan, who sought higher education in Australia, but returned home after graduation.

And although earning a living working as a freelance writer and antique dealer means she does not have a regular income, Nan said her life is “quite nice” with a complete focus on herself.

Nan is just one of the many Chinese women who, with improved education, better financial capability and diversified lifestyles, are being more generous with investment in their own happiness, driving a growing “she-conomy” in China.